Market Overview:

The Global Glufosinate Market was valued at around USD 1.65 billion in 2019 and is expected to be raising at a current CAGR of 9.28%, to reach USD 2.57 billion by 2024. The market continually gains momentum owing to concerns like glufosinate’s high efficacy and high weed spectrum. Glufosinate has many applications in both agricultural and non-agricultural segments. It is a type of herbicide with reasonable effectiveness, usually employed for weed control in different kinds of crops all over the world.

Market drivers and restraints:

Development of genetically modified glufosinate-tolerant crops is a critical aspect of promoting market expansion. In addition to that, its demand is estimated to escalate in the foreseen period due to its ability to target a broad weed spectrum and high efficacy. Nevertheless, glufosinate herbicides cause toxicity in animals and flora & fauna that might hamper the market expansion. Employment of glufosinate is comparably safe on crop plants when compared to other herbicides, and it can also be employed in combination with other herbicides that makes it a lucrative option for both makers and farmers.

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Report segmented as:

By crop type:

• Cereals & grains
• oilseeds & pulses
• fruits & vegetables
• others

By formulation:

• aqueous suspension
• liquid
• suspension concentrate
• soluble liquid concentrate
• others

Geographical analysis:

Regionally, the world market is segmented into four regions, namely, North America, Europe, Asia-Pacific, and LAMEA. Presently, North America occupies the highest share of the market, followed by Asia-Pacific and Europe. North America accounts for around 36% of the total revene.

Important market players:

Major market players operating in the market include Bayer CropScience; Hebei Bestar Bio-Technology Co., Ltd.; Hebei Veyong Bio-Chemical Co., Ltd.; Inner Mongolia Jiaruimi Fine Chemical Co., Ltd.; Jiangsu Huangma Agrochemicals Co., Ltd.; Jiangsu Sevencontinent Green Chemical Co., Ltd.; Lier Chemical Company Ltd.; UPL Ltd.; and Zhejiang Yongnong Chem. Ind. Co., Ltd.

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The Scope of the report:

This report offers the current product and services market evaluation and the future estimation of the market. It helps us understand the market better through size anticipation and CAGR calculation to estimate the next market. It has a broader segmentation for better understanding of the enterprising of the market at a low level by segregating the market into smaller sectors.

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